Haynes International, Inc. (NASDAQ:HAYN) Sees Large Decrease in Short Interest

Haynes International, Inc. (NASDAQ:HAYN) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 387,800 shares, a drop of 38.4% from the September 15th total of 629,400 shares. Based on an average trading volume of 86,300 shares, the days-to-cover ratio is currently 4.5 days. Currently, 3.1% of the shares of the stock are sold short.

Insider Buying and Selling at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total transaction of $402,347.04. Following the sale, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Haynes International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC increased its stake in shares of Haynes International by 29.5% in the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after acquiring an additional 40,904 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Haynes International by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after purchasing an additional 4,153 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Haynes International in the first quarter valued at approximately $7,070,000. Rhumbline Advisers raised its holdings in Haynes International by 3.2% in the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after purchasing an additional 1,245 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Haynes International by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock worth $1,915,000 after purchasing an additional 4,605 shares in the last quarter. Institutional investors own 97.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Haynes International in a report on Saturday. They issued a “hold” rating on the stock.

Haynes International Trading Up 0.1 %

HAYN opened at $59.85 on Monday. The firm has a 50 day simple moving average of $59.58 and a 200 day simple moving average of $59.45. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The company has a market cap of $765.06 million, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.66 and a beta of 1.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89.

Haynes International (NASDAQ:HAYN) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.33). Haynes International had a net margin of 6.11% and a return on equity of 8.45%. The business had revenue of $153.92 million for the quarter, compared to the consensus estimate of $159.35 million. On average, sell-side analysts anticipate that Haynes International will post 2.55 earnings per share for the current year.

Haynes International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, August 30th. Haynes International’s payout ratio is 29.73%.

About Haynes International

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.